[Start People] O Se-young, CEO of Korea Electric Vehicle Infrastructure Technology
Adjusting Charging Speed through 'Smart Charging Technology'
Preventing Power Overload to Lower Basic Electricity Fees
Direct Production of Electric Vehicle Chargers Including 'Two-in-One Charger'
O Se-young, CEO of Korea Electric Vehicle Infrastructure Technology. Photo by Korea Electric Vehicle Infrastructure Technology
[Asia Economy Reporter Kwak Min-jae] There is a smart startup that lowers the basic electricity fee when charging electric vehicles by distributing power. It is Korea Electric Vehicle Infrastructure Technology (KEVIT), established in 2019. KEVIT focuses on providing optimal electric vehicle charging infrastructure solutions through its proprietary Charging Station Management System (CSMS). The number of chargers has increased by 50% annually, and within three years of its founding, the company operates about 2,500 chargers. Having achieved sales of 3 billion KRW last year, the company was also selected for TIPS, a technology startup investment program by the Ministry of SMEs and Startups.
On the 29th, Oh Se-young, CEO of KEVIT, met with reporters at an excellent venture company event hosted by the Korea Venture Business Association and said, “Many companies make electric vehicle chargers, but we are the first startup in Asia to build a proprietary platform capable of power distribution.” He added, “Based on this, we offer the lowest charging rates in Korea, gaining word-of-mouth among users.” CEO Oh, having worked in early-stage electric vehicle startups, anticipated the growing importance of ICT platforms for EV charging and conceived this solution before founding the company.
Electric vehicle charging service app by Korea Electric Vehicle Infrastructure Technology. [Photo by Korea Electric Vehicle Infrastructure Technology]
The core technology of KEVIT is the Charging Station Management System. This Amazon cloud-based platform provides ‘smart charging technology’ through its proprietary algorithm. It controls the charging speed of electric vehicles to distribute power usage. Typically, charging during peak hours, such as 8 to 9 PM when many people charge after work, causes power overloads and increases the basic electricity fee. However, according to the company, this technology adjusts the charging speed to stagger completion times, thereby lowering the basic electricity fee. CEO Oh stated, “Smart charging technology can save up to 50% of the basic electricity fee,” adding, “Companies can reduce power costs and improve profitability, while consumers can charge their electric vehicles more affordably.”
Electric vehicle charger 'Two-in-One Charger' produced by Korea Electric Vehicle Infrastructure Technology. [Photo by Korea Electric Vehicle Infrastructure Technology]
The company also manufactures electric vehicle chargers directly. Representative products include the ‘Two-in-One Charger,’ commonly used in multi-family housing and office facilities, and the ‘Ultra-Fast Charger’ for quickly charging commercial vehicles such as buses. Based on solid technological capabilities, the company maintains a charger failure rate of 1%, providing stable charging services. Charging and payment are possible through a proprietary charging service app without a separate membership card. KEVIT was selected as the project executing agency for the ‘2022 Ministry of Environment Slow Charging Facility Subsidy Project,’ hosted by the Ministry of Environment and Korea Environment Corporation. Being selected for three consecutive years, the company is recognized for establishing slow charging infrastructure nationwide in multi-family housing and workplaces.
To advance its existing smart charging technology, KEVIT has completed the development of an ‘Electric Vehicle Distributed Charging Control System’ that automatically adjusts power supply by analyzing Demand Response (DR). Commercialization is scheduled for early next year. As competition in electric vehicle charging services intensifies among large corporations, the company plans to actively target overseas markets. Starting with the Consumer Electronics Show (CES) held in Las Vegas, USA, in January next year, KEVIT aims to enter the North American market.
CEO Oh said, “KEVIT was the world’s first to receive certification for the ‘International Standard Security Protocol (OCPP 1.6 Security Profile 3),’ and from the early stages of the business, we have had overseas expansion in mind.” He expressed his ambition, stating, “We will attract Series A investment in the first half of next year and actively pursue overseas markets through integrated electric vehicle charging infrastructure services.”
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